A-Mark Precious Metals (NASDAQ:AMRK) Shares Gap Down Following Analyst Downgrade

A-Mark Precious Metals, Inc. (NASDAQ:AMRK)’s share price gapped down before the market opened on Thursday after DA Davidson lowered their price target on the stock from $52.00 to $43.00. The stock had previously closed at $37.63, but opened at $33.45. DA Davidson currently has a buy rating on the stock. A-Mark Precious Metals shares last traded at $35.62, with a volume of 134,069 shares.

Separately, StockNews.com upgraded A-Mark Precious Metals from a “sell” rating to a “hold” rating in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $46.33.

Insider Activity

In related news, Director Michael R. Wittmeyer sold 10,975 shares of A-Mark Precious Metals stock in a transaction on Friday, September 20th. The shares were sold at an average price of $43.30, for a total transaction of $475,217.50. Following the sale, the director now owns 292,535 shares of the company’s stock, valued at $12,666,765.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other A-Mark Precious Metals news, Director Michael R. Wittmeyer sold 10,975 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $43.30, for a total transaction of $475,217.50. Following the transaction, the director now directly owns 292,535 shares in the company, valued at $12,666,765.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Gregory N. Roberts sold 4,320 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $44.00, for a total transaction of $190,080.00. Following the completion of the sale, the chief executive officer now directly owns 28,202 shares of the company’s stock, valued at $1,240,888. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 110,316 shares of company stock worth $4,911,036. 48.64% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On A-Mark Precious Metals

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in A-Mark Precious Metals by 0.6% during the first quarter. Vanguard Group Inc. now owns 1,038,275 shares of the company’s stock worth $31,865,000 after purchasing an additional 6,544 shares in the last quarter. CWA Asset Management Group LLC bought a new position in A-Mark Precious Metals during the third quarter valued at about $11,741,000. Driehaus Capital Management LLC purchased a new position in shares of A-Mark Precious Metals in the second quarter worth approximately $5,702,000. Bank of New York Mellon Corp lifted its position in shares of A-Mark Precious Metals by 6.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 164,580 shares of the company’s stock valued at $5,327,000 after acquiring an additional 10,673 shares in the last quarter. Finally, Bard Associates Inc. boosted its stake in A-Mark Precious Metals by 0.4% in the 3rd quarter. Bard Associates Inc. now owns 93,411 shares of the company’s stock worth $4,125,000 after purchasing an additional 396 shares during the period. 75.25% of the stock is owned by institutional investors and hedge funds.

A-Mark Precious Metals Stock Down 0.0 %

The business has a fifty day moving average price of $41.65 and a two-hundred day moving average price of $38.21. The firm has a market cap of $731.71 million, a PE ratio of 11.48 and a beta of -0.01. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.63 and a quick ratio of 0.39.

A-Mark Precious Metals (NASDAQ:AMRK) last issued its earnings results on Thursday, August 29th. The company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.59). A-Mark Precious Metals had a net margin of 0.68% and a return on equity of 13.28%. The firm had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.64 billion. On average, analysts anticipate that A-Mark Precious Metals, Inc. will post 4.29 EPS for the current fiscal year.

A-Mark Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 8th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend was Tuesday, October 8th. A-Mark Precious Metals’s payout ratio is currently 29.09%.

A-Mark Precious Metals Company Profile

A-Mark Precious Metals, Inc, together with its subsidiaries, operates as a precious metals trading company. It operates through three segments: Wholesale Sales & Ancillary Services, Direct-to-Consumer, and Secured Lending. The Wholesale Sales & Ancillary Services segment sells gold, silver, platinum, and palladium in the form of bars, plates, powders, wafers, grains, ingots, and coins.